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The Postcatastrophe Economy

One of the most prescient financial analysts of the past decade predicts the next economic iceberg and explains how all of us can steer clear. The Great Recession was just the beginning, says analyst Eric Janszen. If we remain on the current course, an even bigger catastrophe is imminent. Inclined to disbelieve him? He predicted the last two busts well before they happened. Our problems, according to Janszen, are rooted in the flaws of the debt-driven FIRE economy (Finance, Insurance, and Real Estate), which dwarfs and is coming close to extinguishing America’s “Productive Economy,” the making and selling of real things. The government’s tried-and-true methods of currency depreciation, tax and interest rate cuts, and fiscal stimulus won’t cut it this time around. The only way out is to change our fundamental approach. With a startling grasp of the complex factors at play, Janszen’s new book The Postcatastrophe Economy: Rebuilding America and Avoiding the Next Bubble cuts through the rhetoric to get at the heart of our recent financial woes. This urgently thought-provoking book shows how political failures have impeded our country’s economic progress and offers solutions for a more sustainable and stable economic future. (Portfolio/Penguin)